Profitability is tempered as pricing improvement is offset by initiative spend at Carnival in 2017.
Narrow-moat Carnival continues to benefit from rational pricing across the cruise industry, contributing to solid current dollar yield growth in the company’s second quarter of 3.2% (5.1% on a constant-currency basis), thanks to strength in ticket (rising 3.5%) and onboard (up 2.4%) improvements. Given commentary surrounding the demand environment, including that cumulative bookings for the next three quarters are well ahead of the year-ago period at higher prices, as well as third-quarter yield...Carnival is a leisure travel and cruise company. Co. operates over 100 cruise ships within a portfolio of global, regional and national cruise brands that sell tailored cruise products, services and vacation experiences. Co.'s North America cruise brands include Carnival Cruise Line, Princess Cruises, Holland America Line, and Seabourn. Co. also has a Cruise Support segment that represents its portfolio of port destinations and private islands, which are operated for the benefit of its cruise brands. In addition to its cruise operations, Co. owns Holland America Princess Alaska Tours, the tour company in Alaska and the Canadian Yukon, which complements Co.'s Alaska cruise operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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